Recently, the accounts of FincFriends Private Limited, an NBFC registered with Reserve Bank of India were frozen by the Economic Offences Wing, Central Civic Board, Bangalore (EOW) on the apprehension of their linkage to certain illegal activities.

The NBFC was assisted and advised by the dispute resolution team led by Mr. Anuroop Omkar (Partner) and Mr. Shreyas Mehrotra (Counsel), AK & Partners in the above matter. 

Upon perusal of the material available with the authorities, it was revealed that the logo and name of FincFriends was being illegally misused by certain miscreants. FincFriends immediately took appropriate actions against the perpetrators and filed the necessary correspondence before EOW. The Company has also submitted statements of directors before the EOW clarifying its stand and emphasising on the best business practices undertaken by the Company. 

The firm was successful in getting the bank accounts of FincFriends defreezed in a record time of 10 (ten) days by employing cost effective, expeditious and holistic legal solutions.